The phenomenon is so widespread some economists have coined a new term— the “Great Freeze ”—to describe the dismal labor market conditions. With unemployment among recent college grads topping 5%—and AI threatening to automate entry-level office jobs —many Gen Z workers are turning to graduate school as a strategic timeout.

The Fed leader discussed the reasoning behind the central bank’s decision to cut rates at its second straight meeting as well as the move to stop shrinking its multitrillion-dollar asset portfolio.

US Treasuries consolidated Wednesday’s losses, when Federal Reserve Chair Jerome Powell cast doubt on whether policymakers would deliver a third consecutive interest-rate cut in December.

However, the Fed chair noted that the growth is unevenly distributed and concentrated among only a few companies.

Stocks reversed their gains Wednesday, with all three indexes veering into the red, after Fed Chair Jerome Powell threw cold water on Wall Street's hopes of an additional rate cut in December. "A further reduction in the policy rate at the December meeting is not a foregone conclusion--far from it,

Enormous capital expenditures in artificial intelligence technology and data centers are helping to drive growth in the U.S. economy and stock market, but Powell said Wednesday that he doesn’t expect interest-rate policy to have much effect on these plans.

Glen Powell is constantly in casting rumors for numerous superhero movies. Despite what the fans want, Powell is not chasing roles in Marvel or DCU. Why won’t Glen Powell be in superhero movies? Powell spoke to Collider about his appreciation for superheroes and their importance in society.

Fed Chair Jerome Powell will have to steer his way through a suddenly very contentious atmosphere among policymakers that will make whichever direction the Fed chooses divisive. While Wall Street economists were split over whether the FOMC will in fact approve another reduction at the Dec.